Here, we show you how to count abnormal return by market-adjusted model using Microsoft Excel. By simply, market adjusted model assumes that the best estimator to estimate return expectation is composite index return in current period. If you receive return less that average return in market, actually you gain negative return, or you don’t get profit.So, we can to count abnormal return by three steps, first, we count return actual, second we count actual expectation by composite index and the...